ICSB Awarded 37 Companies for Outstanding Corporate Governance Practices

Institute of Chartered Secretaries of Bangladesh (ICSB) has awarded 37 companies for their outstanding corporate governance practices as well as transparency and accountability in overall management. The 9th ICSB National Award for Corporate Governance Excellence, 2021 was organized by ICSB at the Pan Pacific Sonargaon, Dhaka. The companies were mainly judged in terms of how perfectly they promoted corporate governance, transparency and accountability in overall management of their team during the year 2021 and the ensuring compliance of Corporate Governance Code of Bangladesh Securities and Exchange Commission (BSEC). This year's theme of the award is "Promoting Governing Excellence". Mr. Salman Fazlur Rahman, MP, the Private Industry and Investment Adviser to Honorable Prime Minister Sheikh Hasina graced the occasion as the chief guest. Mr. M. A. Mannan, MP, Honorable Minister, Ministry of Planning and Mr. Tapan Kanti Ghosh, Senior Secretary, Ministry of Commerce, GoB were present as special guests. Mr. Nazmul Hassan Papon Managing Director Beximco Pharma and President Bangladesh Cricket Board were also present at the award ceremony.   Mr. Mohammad Asad Ullah FCS, President, ICSB presided over the program. Mr. M Nurul Alam, FCS, Senior Vice President, ICSB and Chairman, Corporate Governance Excellence Award Committee, Mr. Mohammad Shafiqul Islam Bhuiyan ACS, Council Member and senior officials of various organizations were also present. The program's chief guest Mr. Salman Fazlur Rahman, MP, the Private Industry and Investment Adviser to Honorable Prime Minister Sheikh Hasina, Mr. M. A. Mannan, MP, Honorable Minister, Ministry of Planning and Mr. Tapan Kanti Ghosh, Senior Secretary, Ministry of Commerce, GoB, presented trophies and certificates to 37 winning companies under 12 categories who are listed with the DSE and CSE. Companies were recognized with awards in the Gold, Silver and Bronze categories. Eastern Bank Limited won the gold trophy in the general banking sector while Mercantile Bank Limited secured silver and BRAC Bank Limited bronze. Shahjalal Islami Bank Limited received the gold award in Islami Banking category. DBH Finance PLC won the gold award in the non-banking financial institutions category while IDLC Finance Limited bagged silver and Bangladesh Finance Limited received bronze award. In the General Insurance category, the gold trophy went to Green Delta Insurance Company Limited, the silver to Reliance Insurance Limited & Peoples Insurance Company Limited and the bronze to Sena Kallyan Insurance Company Limited & City General Insurance Company Limited. In the life insurance catagory, Pragati Life Insurance Limited bagged gold award and National Life Insurance Company Limited received silver and Sandhani Life Insurance Company Limited the bronze trophy. Beximco Pharmaceuticals Limited took home the top honour in the pharmaceuticals and chemical category Square Pharmaceuticals Limited won silver and Orion Pharma Limited bronze. In the textile and RMG company category, Paramount Textile PLC bagged the gold, Matin Spinning Mills PLC got silver and Square Textiles Limited the bronze trophy. Unilever Consumer Care Limited won gold, Golden Harvest Agro Industries Limited silver and Olympic Industries Limited bronze respectively in the food and allied company category. Walton Hi-Tech Industries PLC. got the gold trophy in the engineering category, Singer Bangladesh Limited silver and Runner Automobiles PLC bronze. RAK Ceramics (Bangladesh) Limited & Marico Bangladesh Limited won the gold and LafargeHolcim Bangladesh Limited & Premier Cement Mills PLC bagged silver respectively in the manufacturing category. In the fuel and power company category, United Power Generation & Distribution Company Limited secured gold, Summit Power Limited silver and Doreen Power Generations and Systems Limited received the bronze award. Eastern Housing Limited won the top honour in the service company category while Unique Hotel & Resorts PLC bagged silver and Index Agro Industries Limited bronze. Speaking at the event as a chief guest, Salman Fazlur Rahman, MP said, “The art to business management is diversified in nature but the Bangladesh Securities & Exchange Commission has listed characteristic of such diversified fields into a common framework which are independently certified by professionals of the field in public practice.  This ICSB platform is also an opportunity for all eligible public listed companies in the country to see their corporate governance performance through an independent judgment. I assure full cooperation from the government for the overall development of ICSB so that ICSB can play a more significant role in the future development of the country." Congratulating the winners he also said, “I express my heartfelt congratulations to the Companies those who owned the Corporate Governance Award prizes today for the year 2021 and also congratulate those who have not own the prizes. I believe that the Companies those have not own today they will do better in the next year and able to attained the prizes in coming years." He also mentioned that I believe that the government will actively consider the proposals of ICSB for it professional development and ensuring governance in the corporate arena. Addressing the event as a special guest Honorable Planning Minister M.A. Mannan, MP said, “"I am extremely glad to speak in 9th ICSB National Award for Corporate Governance Excellence 2021. Already, this event has created a huge enthusiasm among the Corporate   Professionals of Bangladesh. The most important contribution of this event so far is creating awareness about good governance, transparency and accountability in corporate management. The public limited companies in Bangladesh have become more concerned about publishing their Annual Reports, maintaining compliance and following corporate guidelines, so that they may come out as award winner in this gala event.” Senior Secretary Tapan Kanti Ghosh said, “I appreciate the effort being made by ICSB for identifying and recognizing the best corporate houses. I believe that this award will encourage other corporate houses in Bangladesh to improve their governance and compliance issues which will contribute to corporate sustainability and ultimately contribute to the country's socio-economic development and enhance our country’s global competitiveness.” ICSB President Mohammad Asad Ullah FCS said, “We urged upon our Hon’ble Chief Guest and Special Guests, sir, to take appropriate measures and initiatives from the Govt. to further develop the profession of ICSB as a result the private sector of the country will be disciplined, enriched and developed by the professionals produce by the ICSB and they will contribute for achieving the SDGs in 2030 and Smart Bangladesh in 2041 as declared by Hon’ble Prime Minister Sheikh Hasina.” Chairman, Corporate Governance Excellence Award Committee M Nurul Alam, FCS, said, “In order to encourage corporate houses for practicing good governance as well as recognizing their contribution to the good governance practice at organization level, ICSB has introduced the National Award for Corporate Governance Excellence in 2013. Since then, this award become a much-awaited award ceremony in the corporate sector of Bangladesh.” Dignitaries, different professionals, chairmen, directors, managing directors and corporate executives of the nation's top corporate houses, members of the institute, media and journalists attended the event. The guests praised ICSB's contribution in building governance and ensuring sustainable development in the business community of Bangladesh.